Authors(s) and Affiliation(s)

Abstract

This study deals with effects of foreign companies on two central aspects of the transition process : the modernization of the manufacturing industry and the related changes in the demand for labor. It is concluded that the privatization policy in Hungary turned out to be successful. Partly as a result of foreign investments, Hungary has been able to integrate into the West European economy substantially, after being locked in the socialist spheres of influence for forty years. - (AGD)